A limited constitutional government calls for a rules-based, freemarket monetary system, not the topsy-turvy fiat dollar that now exists under central banking. This issue of the Cato Journal examines the case for alternatives to central banking and the reforms needed to move toward free-market money.

The more widespread use of body cameras will make it easier for the American public to better understand how police officers do their jobs and under what circumstances they feel that it is necessary to resort to deadly force.

Americans are finally enjoying an improving economy after years of recession and slow growth. The unemployment rate is dropping, the economy is expanding, and public confidence is rising. Surely our economic crisis is behind us. Or is it? In Going for Broke: Deficits, Debt, and the Entitlement Crisis, Cato scholar Michael D. Tanner examines the growing national debt and its dire implications for our future and explains why a looming financial meltdown may be far worse than anyone expects.

The Cato Institute has released its 2014 Annual Report, which documents a dynamic year of growth and productivity. “Libertarianism is not just a framework for utopia,” Cato’s David Boaz writes in his book, The Libertarian Mind. “It is the indispensable framework for the future.” And as the new report demonstrates, the Cato Institute, thanks largely to the generosity of our Sponsors, is leading the charge to apply this framework across the policy spectrum.

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Iraq Drawdown: What Took So Long?

President Obama’s announcement that the U.S. will meet the August 31 deadline for removing combat troops from Iraq is welcome news. It is encouraging that the president remains on track to end the war in Iraq as he promised to do.

The president should continue this progress and adhere to the Status of Forces Agreement (SOFA) and remove the 50,000 troops that will remain in Iraq by the end of 2011. Although political and security uncertainties remain, these concerns should not delay the withdrawal. There will always be excuses, especially from those who favored the war at the outset, for an open-ended presence.

Such a policy reversal would be neither warranted nor wise. An expeditious military withdrawal from Iraq, and a handover of security responsibilities to the Iraqi people is in America’s strategic interest. The war in Iraq has already consumed far too much blood and treasure, and our troops are straining under the burdens of repeated foreign deployments.

It appears that President Obama will keep his promise to end the war in Iraq, and bring all the troops home from that shattered land. His decision to dramatically expand the war in Afghanistan, however, signals an unwillingness to truly change the course of U.S. foreign policy in a direction that advances U.S. security, and at far less cost than our current strategy. The war in Iraq was, and still is, a great tragedy. It would be more tragic still if the President and his senior advisers fail to heed the lesson that attempts at nation-building are costly and counterproductive.